Without it, stablecoins will be subject to a patchwork of state regulations instead of a streamlined federal framework that is more conducive to growth and competitiveness.
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US Stablecoin bill blocked as Democrats withdraw support
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U.S. Treasury Secretary Scott Bessent criticized the Senate’s failure to advance the GENIUS Act as without it, stablecoins will remain governed by a fragmented set of state rules rather than a unified federal approach that better supports growth and global competitiveness
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